Thursday, 19 February 2015

Say Bye to Traditional MBA and Hi to Sectoral MBA


Amidst the ongoing debate whether or not management education has lost its sheen; the top B-schools’ course designers in India are reinforcing the importance of the Sector specific MBA degree to meet the industry requirements.
With the advent of 21st century, world has transformed into a big global market where demand for smart and skilled leaders and trained management professionals has become paramount.
The field of MBA has expanded its horizon by adding some exciting new courses to make the MBA more sectors specific, to meet the growing requirements of the world’s dynamic market scenario.
From the traditional branches, like Sales, Marketing, Finance and Human Resource (HR), MBA has split into specialized sub- disciplines like Health Care, Health Economics, Insurance, Supply Chain Management, Pharmaceutical, Rural Management and many more.
A basic in-depth understanding of some of the specializations and how they’ve added a fine edge to the contours of basic management skills:

Procurement and Supply Chain Management has gained immense prominence in the last few years. Getting products and services to the right place, at the right time depends on a hospital’s effective and efficient procurement and supply chain processes, like managing transport, warehousing, planning and controlling the flow of how the product or service is going to be delivered to the patients. Looking at the large consumer market, it has become imperative for the hospital to hire professionals who have the requisite knowledge and skills to handle this job.

Future Prospects: Today, a hospital’s reputation depends on how efficiently it serves its patients. Therefore, individuals with a qualification in Procurement and supply chain management play a huge role in shaping the reputation of a brand. Once you obtain your degree in this field, you can take up roles like Procurement or supply chain manager, Consultant and analyst. 

The Health industry is not restricted to providing treatments anymore. In fact, it has transformed itself into a more organized and professional structure that emphasizes on improving the standards of health care. India is one of the leading countries in medical tourism with a multitude of patients coming from the UAE, Nigeria & Africa today and as such, the need for better health facilities have increased the demand for specialized professionals who have the expertise to manage health services. Hence, the requirement for health and hospital management professionals is at an all-time high.


Future Prospects: Health and Hospital Management is a very high-paying and rewarding profession with the sprouting of private hospitals and clinics. Authorities are on a constant lookout for individuals who can look after health and hospital administration and manage their services in the most effective manner.

Health economics, Finance and Insurance is a branch of economics concerned with issues related to efficiency, effectiveness, value and behavior in the production and consumption of health and health care and how financial resources are generated, allocated and used in health systems. It also plays an important role in informing health policy and is a key element of the planning and evaluation process. Sound financial planning is essential to strengthening health systems and contributes directly to improving the impact of health care interventions. 

MBA in Health Economics Finance and Insurance laid stress on developing professionals in the area of evaluation, research, policy making and implementation. This course will provide students with a solid foundation in the methods necessary to promote the efficient and equitable allocation of resources and development of strategies to promote public health and cost-effective health care and the role of health insurance in it.

Proper management of human resources is critical for providing a high quality of health care and for improving health care model. Effective human resource management strategies are greatly needed to achieve better outcomes from and access to health care around the world.

MBA Human Resource Management in Health and Hospitals meet the needs of individuals presently engaged or aspiring to build a career in the area of Human Resource Management in hospitals and/or healthcare organizations so that they can contribute towards betterment of healthcare of the population.

Companies
Thumbay Group GMC Hospital, Ajman
D M Healthcare Dubai
Wockhardt Hospitals Ltd
Manipal Hospitals Bangalore

The pharmaceutical industry in India has experienced phenomenal growth lately. Top pharmaceutical firms need good managers to look after the management as well as development of their company. MBA in Pharmaceutical Management is meant to prepare you for managerial positions in the Pharmaceutical industry.

Future Prospects: After obtaining this degree, you can work as Drug Distribution Manager, Sales Manager or Marketing Manager in leading pharmaceutical companies. MBA graduates who have prior experience can take up the position of a Deputy General Manager or Regional Manager in reputed public sector pharmaceutical companies, research organizations, government hospitals, etc.

Companies
Ranbaxy Laboratories Limited
Indian Drugs and Pharmaceuticals Ltd (IDPL)
Hindustan Antibiotics Limited (HAL)
Sun Pharma
Cipla


Our country's most number of population belongs to the rural areas. Developing and enhancing the rural life is always a challenge to the policy makers. On the other hand, MBA is a skill full course work, where a student comes to know how to manage and implement the best possible resource available in a cost effective way. And if resources are not available, get them in a feasible way to encounter or to solve managerial level problems. 

MBA in Rural management is a kind of a bridge where we can add a humanitarian view and try to resolve our rural world problems with skills of business and management.

Rural Managers are part of Social-economics development of a rural area where resources are not available or critically available. They think in a way that's how rural people can get all the facilities of a human life that is available in an urban area. 

Future Prospects: Generally a Rural manager works with NGOs, Government and few of private companies. There resides a huge market in rural parts and companies are always busy trying to explore those. So a good rural manager can never run out of a job. Apart from this salary may not become a constraint. Young Fellows get a chance to work close to Mother Nature.

Companies:
Gujarat State Watershed Management Association (GSWMA)
Reliance Foundation
Rajeev Gandhi Foundation